How Insurance Policies Can Respond to Damage From Floods, Hurricanes and Earthquakes

Your insurance can help you financially manage the aftermath of accidents and other incidents. However, many policies may be limited in what they can respond to, as certain perils are often explicitly excluded from coverage. Understanding these nuances and limitations can be critical, as assuming losses arising from certain situations will be covered could leave you underinsured and staring down significant out-of-pocket losses.

Are Floods, Hurricanes and Earthquakes Covered By My Insurance?

Standard homeowners, renters and commercial property insurance policies do not typically cover damage caused by floods and earthquakes. In hurricane-prone areas, windstorm coverage may come with an additional deductible, among other policy stipulations. Whether you’re seeking to establish adequate coverage for a home you own, your rented residence or the physical assets of your business, you’ll likely need additional insurance to address such incidents. Fortunately, by understanding the following options, you can retain access to essential financial aid:

• Floods—Flood insurance is available through the Federal Emergency Management Agency’s National Flood Insurance Program, and private carriers may also offer coverage options. These policies can be critical in helping you repair buildings or replace possessions damaged by floodwater, as such losses are typically excluded from standard insurance products.

• Hurricanes—These powerful storms can inflict damage in multiple ways. Hurricane insurance is not always available as a named product but may refer to multiple forms of coverage that can assist with losses arising from floods and windstorms. In some parts of the country, wind-related losses may be included in standard policies, but this is less likely in areas prone to experiencing hurricanes. 

• Earthquakes—These seismic events are typically excluded from standard insurance policies, yet can wreak havoc on your property and incur devastating losses. Fortunately, the right coverage can help you recoup losses involving your property, as well as additional living expenses should your home be temporarily uninhabitable following an earthquake.

We’re Here to Help

Contact D. Ward Insurance Services today to learn about coverage options for natural disasters and ensure you’re suitably covered for floods, hurricanes and earthquakes.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.